中国电池行业_2025 年上半年出口趋势要点_随着其他国家需求上升，出口表现稳健-China Battery Sector_ Takeaways from 1H25 export trends_ Solid export performance with RoW demand on the rise

Summary of China Battery Sector Conference Call Industry Overview - The conference call focused on the China Battery Sector, particularly the export trends and dynamics in the first half of 2025 (1H25) [1][4]. Key Insights - Export Performance: In 1H25, total battery exports from China (including consumer batteries and energy storage systems) increased by 73% year-over-year (YoY), with June 2025 showing a 74% YoY growth [4][14]. - Export Contribution: Direct exports accounted for approximately 18% of China's total battery output, highlighting the importance of export momentum for the sector's dynamics [1]. - Regional Demand: China supplied over 90% of Europe's and 80% of the US's battery imports in 1H25, indicating China's critical role in the global battery supply chain [1][24]. Export Breakdown - By Region: - US: Contributed 22% of total exports in 1H25, with a 49% YoY increase. The volume rebounded significantly in June (+80% month-over-month) after tariff adjustments [4][24]. - Europe: Accounted for 35% of total exports, with a 61% YoY growth. Monthly exports remained high at 11-12 GWh [4][5]. - Rest of the World (RoW): Represented 42% of total exports, with a remarkable 102% YoY growth, particularly driven by demand from the Middle East, Chile, and Australia [7][8]. Product Trends - LFP Battery Penetration: The share of lithium iron phosphate (LFP) batteries in direct exports rose to 62% in 1H25 from 50% in 1H24, indicating a strong demand for LFP technology [7][29]. - LFP Cathode Exports: Exports of LFP cathodes surged to 7.3 kt (approximately 3 GWh) in 1H25, up from 0.8 kt in 1H24 [7][29]. Company Highlights - CATL: The leading contributor to China's battery exports, supplying about 70% of Europe's battery imports and significant volumes to the US. Expected to stabilize its ex-China volume exposure at around 30% [7][8]. - Gotion: Collaboration with Volkswagen is seen as a strategic opportunity to enhance its product mix and market position, particularly in Southeast Asia [7][8]. - Hunan Yuneng: A leading LFP cathode manufacturer with a 34% market share, positioned to benefit from the increasing LFP demand [7][8]. Market Dynamics - Correlation with EV Sales: There is a strong correlation between China's battery exports and European battery electric vehicle (BEV) sales, with exports leading sales by approximately 3 months [5][24]. - Tariff Impact: The rollback of a 125% reciprocal tariff in April 2025 significantly impacted export volumes, leading to a recovery in June [4][34]. Conclusion - The China Battery Sector is experiencing robust growth in exports, driven by increasing demand from key markets such as the US and Europe. The shift towards LFP technology and strategic partnerships among leading companies are expected to shape the future landscape of the industry.